The City of Toronto and private energy provider Enwave Energy Corporation (Enwave) have established a partnership to work on projects that will advance the objectives of the City’s TransformTO Climate Action Strategy.
Through the partnership, the City and Enwave will co-develop low-carbon thermal energy networks in Toronto. Low-carbon thermal energy networks use energy from renewable sources, such as heat recovery, geo-exchange, and solar thermal, to heat and cool multiple buildings in an area.
“This public-private partnership is an innovative approach to achieving scale and momentum,” said Mayor John Tory. “Along with delivering cost-effective greenhouse gas emission reductions, the projects will generate investments in our economy, provide employment, and improve our resilience.”
The City’s TransformTO Climate Action Strategy identifies low-carbon thermal energy networks as a key way to reduce greenhouse gas emissions from buildings. The strategy targets an 80 per cent reduction in local greenhouse gas emissions by 2050, based on 1990 levels. Homes and buildings generate about half of the greenhouse gas emissions in Toronto today.
“Our customers, the City and Torontonians will all benefit from a continued reduction of greenhouse gas emissions, which is why we are proud to collaborate with the City under an innovative structure to drive value on multiple levels,” said Carlyle Coutinho, President and Chief Operating Officer, Enwave Canada.
More information about the City’s TransformTO Climate Action Strategy is available at http:/toronto.ca/transformto.